For isolated dc–dc power converters, the interwinding parasitic capacitance of the transformer is usually one of the main paths for common-mode (CM) noise. In order to simplify the CM noise analysis, this paper proposes a two-capacitor transformer winding capacitance model. The model is derived based on general conditions so it can be applied to different isolated converter topologies. A measurement technique is also proposed to obtain the lumped capacitance for the model. The CM noise models of several isolated converter topologies are analyzed with the proposed two-capacitor transformer winding capacitance model to achieve simplicity. Finally, the proposed transformer winding capacitance model and measurement technique are verified by simulations and experiments.